William Blair Investment Management LLC trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,607,828 shares of the company's stock after selling 251,852 shares during the quarter. William Blair Investment Management LLC owned approximately 0.44% of Monster Beverage worth $230,161,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC purchased a new position in Monster Beverage in the first quarter worth $26,000. Stephens Consulting LLC purchased a new position in Monster Beverage in the second quarter worth $26,000. ICA Group Wealth Management LLC purchased a new position in Monster Beverage in the fourth quarter worth $27,000. Tortoise Investment Management LLC grew its holdings in Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company's stock worth $29,000 after purchasing an additional 396 shares during the last quarter. Finally, Kings Path Partners LLC purchased a new position in Monster Beverage in the second quarter worth $30,000. 72.36% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on MNST shares. Evercore ISI cut their price target on shares of Monster Beverage from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Stifel Nicolaus lowered their price objective on shares of Monster Beverage from $63.00 to $57.00 and set a "buy" rating for the company in a research note on Monday, June 17th. Citigroup lowered their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group lowered their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, Roth Mkm lowered their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of "Moderate Buy" and a consensus target price of $55.85.
Get Our Latest Analysis on MNST
Monster Beverage Price Performance
Shares of Monster Beverage stock traded up $0.92 during trading hours on Friday, reaching $50.83. The stock had a trading volume of 3,816,007 shares, compared to its average volume of 7,181,729. The stock's 50 day moving average is $48.99 and its 200 day moving average is $52.46. The firm has a market capitalization of $49.79 billion, a PE ratio of 31.97, a PEG ratio of 2.28 and a beta of 0.74. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13.
Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company's revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. Equities analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.
Monster Beverage Company Profile
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Free Report)
Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.
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